Canopy Growth Corporation (TSX:WEED, NYSE:CGC) reported a narrower quarterly loss and double-digit full-year revenue growth on Monday, as the Canadian cannabis company cited the acquisition of MTL Cannabis and a strategic recapitalization as key drivers of its turnaround effort.
The company posted an adjusted loss per share of $0.29 for its fiscal fourth quarter, missing analyst estimates, though the result represented a 71% improvement from the $1.01 loss in the same period a year earlier
Revenue came in at $51.95 million, up 13.6% from $45.75 million a year ago, but also fell short of expectations. For the full fiscal year ended March 31, 2026, Canopy said net revenue in its Canada adult-use cannabis segment grew 20%, while Canada medical revenue rose 18%. The company completed its acquisition of MTL Cannabis during the fiscal year, a deal it said positions Canopy as Canada’s leading medical cannabis company by revenue.
Canopy also closed a strategic recapitalization in January 2026 that left it with $131.3 million in net cash at fiscal year-end. CEO Luc Mongeau said the company used the year to reset operations and lay groundwork for expansion, with Europe emerging as a key target market. “As the leading medical cannabis business in Canada by revenue, we are well positioned to extend that leadership into Europe,” Mongeau said, describing the region as representing “enormous long-term opportunity.” Chief Financial Officer Tom Stewart pointed to balance sheet improvements as a risk-reduction measure that also expands the company’s strategic options. Canopy said it expects net revenue growth across the business in fiscal 2027 and projected that improvements in cultivation practices will contribute to meaningful gross margin gains.